EARNINGS: The Diamond Chip

In his small office in Wilmington, Del., E.
Herbert Tinney performed an annual rite. A onetime accountant for
Price, Waterhouse & Co., Herbert Tinney earns $5,700 a year as the only
paid officersecretary and assistant treasurerof Christiana
Securities Co. Last week he sent out Christiana's annual report. In
1948, the company had netted $28.4 million, a substantial gain over the
$23.3 million earned in 1947. For each of Christiana's 150,000 common
shares, this was an earning of $182.72. Tinney mailed out all but 2¢ a
share of this to Christiana's select little band of 3,186 common
stockholders.